This single-family home at 32 Gloucester Rd, Parsippany Troy Hills Township, offers 4 beds and 2.5 baths, placing it at the top end of the local rental market. Based on comp data, similar homes in the 07054 zip code are achieving monthly rents between $4,350 and $6,000. This translates to an annual gross potential revenue range of $52K–$72K. With a mid-market rent, the estimated payback period (ignoring expenses) on a $600K–$700K valuation is around 9–13 years. The Parsippany area remains highly desirable due to strong schools, commuter access, and steady demand, which helps reduce vacancy risk. Property features like central air, modern appliances, a finished basement, and garage parking add significant appeal for high-earning tenants. There are no major red flags, though maximizing rent may require updating finishes or landscaping.
To boost rental value, consider minor cosmetic upgrades—think fresh paint, upgraded flooring, or kitchen/bathroom refreshes. Adding smart home tech or energy-efficient appliances can help you edge out nearby listings. For owners considering a sale, the current high rental demand suggests holding for cash flow is attractive, but if you’re ready to list, highlight the home’s family-friendly layout, proximity to local amenities, and turnkey features to attract both investors and relocating families.